Trump’s High-Inflation Regime Will Weaken The Dollar And Push Bitcoin To $1M, Says Arthur Hayes: ‘Get Long And Stay Long’
Posted On November 13, 2024
Arthur Hayes, co-founder of cryptocurrency exchange BitMEX, believed President-elect Donald Trump’s policies would weaken the dollar, driving up the value of scarcer assets like Bitcoin (CRYPTO: BTC) significantly.
What happened: In a blog post titled “Black or White,” published Tuesday, Hayes argued that the Trump era would see a massive expansion in bank credit, leading to an increased money supply.
He said that Republicans would pass bills to encourage manufacturers to establish onshore production. Subsidies and tax credits would be doled out to support such re-shoring initiatives, for which the government would incur more debt.
A devaluing dollar …
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